2024 Market Recap and 2025 Preview

By Matt Stark

Matt Stark is a top 1% REALTOR® in Seattle with over 19 years of experience. A Seattle native, he began his career in 1999 as an investor before transitioning to full-time real estate.

As 2024 wraps up, I want to share what we’ve seen in the housing market this year and what you can expect in 2025. If you’re thinking about buying or selling a home, this could be valuable information to help you plan your next move.

How did the market perform in 2024? This year, the real estate market remained strong despite higher interest rates earlier in the year. The average sale price increased by 6.9%. That’s not as high as the 20% growth we saw in 2022, but it’s still solid, showing stable and consistent growth.

The listing-to-sale price ratio averaged 101%. This means homes generally sold for either at or above their asking price. Days on market? Just 20 to 21 days on average—less than three weeks! Plus, inventory ended the year with just under two months’ supply, which is typical for this time of year.

What’s coming in 2025? Looking ahead, I expect interest rates to stay steady or even decline slightly, which could encourage more buyers to enter the market. The first quarter of 2025 may see high buyer demand but limited inventory. This creates a great opportunity for sellers to list their homes early in the year before the spring rush in April, May, and June.

For sellers, this means January through March could bring quicker sales and stable or even rising prices due to the supply-and-demand imbalance. If you’re thinking about selling, getting ahead of the competition now could pay off.

If you’re curious about how much your home could sell for or how long it might take to sell, Let’s chat! I’d love to give you a personalized market analysis and help you decide the best time to sell or buy. Give me a call or text at 206-940-4557 to have a conversation about your real estate goals. 2025 is shaping up to be an exciting year, and I’m here to help you make the most of it. Hope you have a Happy New Year, and I look forward to hearing from you!